INDIA'S TEXTILE AND APPAREL INDUSTRIES AND FUTURE OPPORTUNITIES

Manoj Kumar

No 2023-46-07, Working papers from Voice of Research

Abstract: Textile in India have long history dating back to further than 5000 BC and there were archeological substantiation that we had an abundant coffers and van in supplying the finest cloth products to the rest of the world. This sector cannot be ignored because it's the second largest sector furnishing employment openings both organized and unorganized sectors. The cloth assiduity employs about 51 million people directly and 68 million people laterally. The cloth assiduity has two broad parts. First, the unorganized sector consists of handloom, crafts and sericulture, which are operated on a small scale and through traditional tools and styles. The textiles and apparel industry in India has strengths across the entire value chain from fiber, yarn, fabric to apparel. The Indian textile and apparel industry is highly diversified with a wide range of segments ranging from products of traditional handloom, handicrafts, wool, and silk products to the organized textile industry in India. The organized textile industry in India is characterized by the use of capital-intensive technology for the mass production of textile products and includes spinning, weaving, processing, and apparel manufacturing. India’s readymade garment exports to see a CAGR of 12-13% and surpass $ 30 Bn by 2027. The alternate is the organized sector conforming of spinning, vesture and garments member which apply ultramodern ministry and ways similar as husbandry of scale. The Indian cloth assiduity exhibits rich artistic heritage of India with wide variety of fabrics, ways and tinges that reflect the different set of people and traditions across the country. One of the oldest diligence in India, it covers an expansive diapason of parts, from hand woven/ hand- spun, unorganized member on one end to capital and technology ferocious organized member on the other. India is the largest patron of Jute in the world and is the second largest patron of silk and cotton encyclopedically. This composition explores with the current performance of Indian Textile and Apparel assiduity & Government programs and future of this sector. Key words: Indian Textile and Apparel Industry, strengths Market Size, export, Employment, Economic Development and Growth. Traditional

Date: 2023-06
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